$this->bbcode_second_pass_quote('', 'C')rude Oil 96.11
HO 2.666
RBOB 2.458
Ref Margin 12.1055 $/bbl
Ref Margin 0.2882 Cents/Gal
PeakOil is You
Refining margins watch (was Tesoro)
Re: Tesoro's earnings fall 80 percent
by pup55 » Wed 26 Dec 2007, 12:44:51
Update:
Notice that what is happening now is completely different than what was happening last fall, when the crude oil price nearly hit 100.
At that point, crude went up, but the products stayed fairly cheap. As we all know, the frequent viewers of PO.com were questioning what was happening on this.
Now, however, the products have pretty much followed the crude price. Today, in conjunction with the crude price increase, the finished products are up about 7 cents a gallon.
The refinery margin is still over $12. down a little from the other day, but still respectable.
So, at least for the time being, any crude oil price will cause finished products inflammation, and the public will be more sensitized to it, especially in about two weeks when the credit card bills hit.
Also note, that by the end of January, we will go into a period of low gasoline demand, so it will be interesting to see if we return to the same scenario we had during the fall.
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pup55 - Light Sweet Crude
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Re: Tesoro's earnings fall 80 percent
by pup55 » Tue 01 Jan 2008, 09:08:20
Kerkorian
$this->bbcode_second_pass_quote('', 'K')irk Kerkorian's Tracinda Corp. will pay $684 million for a 35 percent stake in Delta Petroleum Corp. in a deal that will help Delta speed drilling activities in the Rocky Mountains. Denver-based Delta said the agreement will also provide funding for possible acquisitions. Its board unanimously approved the agreement allowing Tracinda to acquire 36 million shares. The $19-per-share purchase price represents a 23 percent premium to the company's closing stock price on Friday.
$this->bbcode_second_pass_quote('', 'K')irk Kerkorian's Tracinda Corp. will pay $684 million for a 35 percent stake in Delta Petroleum Corp. in a deal that will help Delta speed drilling activities in the Rocky Mountains. Denver-based Delta said the agreement will also provide funding for possible acquisitions. Its board unanimously approved the agreement allowing Tracinda to acquire 36 million shares. The $19-per-share purchase price represents a 23 percent premium to the company's closing stock price on Friday.
It looks like our man Kerkorian was really determined to get into the oil business.
$this->bbcode_second_pass_quote('', '"')The million-dollar question is, what does Kerkorian see that the rest of Wall Street doesn't?" David Tameron, an analyst at Wachovia Capital Markets LLC in Denver, said in a telephone interview.
Before yesterday, "it was suspected Delta was going to be forced to do some kind of equity offering or sell some assets to fund drilling, or else cut its 2008 budget," Tameron said.
The Toronto Star
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pup55 - Light Sweet Crude
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Re: Tesoro's earnings fall 80 percent
by UncoveringTruths » Fri 04 Jan 2008, 12:07:02
$this->bbcode_second_pass_quote('', 'C')ontinuing its focus on its most profitable assets, Valero Energy Corp. has told its employees that it could sell its refineries in Memphis, Tenn., and Krotz Springs, La.
skip
$this->bbcode_second_pass_quote('', '"')Valero is disposing of those refineries that need to be upgraded to handle heavy sour crude," Gheit said. "Valero will be a company with strictly heavy, sour crude refineries. If you want to hit a bull's eye, this is where you should go. It's where the money is made and where the future is. Anything else is a diluted version of the pure play."
The ability to refine heavy crude oils benefits Valero, the nation's largest refiner, because heavier grades of crude oil sell for less than light, sweet crude oils. Gheit said refining margins could be tight this year.
Valero considers selling 2 refineries
It's a cold cold world when a man has to pawn his shoes.
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UncoveringTruths - Tar Sands
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